Nyc Real Estate Transfer Tax. Save 6 when selling in nyc. The new york city transfer tax goes from 1 to 1425 when over 500000.
Conveyance of real property situated in the state and city of new york respectively. Both nyc and nys charge a transfer tax on the sale of real property. Outside of nyc a statewide transfer tax applies.
Its paid when there is a transfer of title to new york from one owner to another.
You must also pay rptt for the sale or transfer of at least 50 of ownership in a corporation partnership trust or other entity that. Xvi this includes any document whereby any real property or. The real estate transfer tax is a specific type of excise tax. If the home value is 500000 or less the county transfer tax is 1 and if the home value is more than 500000 the transfer tax is 1425.